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Birks Reports Higher Holiday Sales

Published

8 years ago

January 16, 2017

INSTORE Staff

The company runs 46 luxury jewelry stores.

MONTREAL — Birks Group Inc. (NYSE MKT: BGI), which operates 46 luxury jewelry stores across Canada, Florida and Georgia, reported that comparable store sales for the holiday season increased by 11 percent compared with the equivalent period a year earlier.

The figures for the period from Oct. 30 through Dec. 31 were reported on a consolidated constant exchange rate basis.

Comparable store sales in the U.S. increased by 16 percent, while Canadian comparable store sales grew by 3 percent. Comparable store sales include stores open in the same period in both the current and prior year.

The company said growth in comparable store sales in both Canada and the U.S. was primarily the result of its success in growing its average sales transaction and conversion rates.

“We are very pleased to see that the continued execution of our sales growth strategies has led to a record year in terms of holiday sales,” said Jean-Christophe Bédos, president and CEO of Birks Group. “These results were driven by our focus on our Birks-branded products, our marketing campaigns as well as our continued dedication to enhancing customer experience.”

Bédos added: “We also recognize the great support we received from our key suppliers and from our senior lenders who, in December, extended our senior credit facilities at favorable terms to 2021. As we enter the final quarter of our fiscal year, we are confident that we will build on the momentum of these holiday season successes.”

The company operates 26 stores under the Birks brand in most major metropolitan markets of Canada, 17 stores in Florida and Georgia under the Mayors brand, one store under the Rolex brand name and two retail locations in Calgary and Vancouver under the Brinkhaus brand.

Related Topics: Birks Brinkhaus Mayors Rolex

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